Death Battle did two episodes on the matchup, with each of them winning once. Link won when he had all his items and Cloud could use materia but couldn't use summons (they were considered outside help which was against the rules in DB at the time). They said Link's massively varied arsenal more than made up for Cloud's pure strength advantage. Rematch, they added Link's abilities from BotW and gave Cloud his summons back, and Cloud won, with the pure overwhelming power of the summons, of course.